АBank and Mastercard launch rapid settlement, an acquiring service for entrepreneurs
Kyiv, December 14, 2023 – АBank, in cooperation with the global technology company Mastercard, has introduced a unique solution in Ukraine, allowing entrepreneurs to receive money from cashless payments for goods and services whether made through a POS terminal or online as quickly as possible – via hourly crediting of funds to the account.
The “Hroshi POStiyno” service by ABank and Mastercard enables representatives of micro- and small businesses to conveniently and quickly receive funds from acquiring into their business accounts. This helps reduce the need in cash for entrepreneurs and eliminates the need to explore additional financing options for covering their ongoing business expenses.
"One of the barriers for Ukrainian entrepreneurs when using acquiring is the delay in crediting funds to the business account after sales — typically, settlement occurs the following day. The technology solution we developed in collaboration with Mastercard addresses this issue, offering companies without sufficient volume of circulating assets additional opportunities for business development," emphasizes Oleksandr Nikolenko, Head of SME Banking, Abank.
The service is currently functioning in test mode and will soon be accessible to all entrepreneurs interested in using it. During the test mode, the service is free of charge.
“Cashless and digital technologies play a crucial role in the development of entrepreneurs’ businesses today. The recent Mastercard survey has shown that every fifth Ukrainian business gets income solely from cashless sales, with another 53% attributing half of their income to cashless transactions. Therefore, in collaboration with our partners we continue to introduce technological solutions that provide entrepreneurs with additional opportunities for cashless payments, in particular, the possibility to quickly get money credited to their business account”, states Valerii Novikov, Director, Business Development, Mastercard Ukraine.
Connection of acquiring services in the Abank is available online at https://a-bank.com.ua/business/acquiring
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Follow us on Twitter: @MastercardMEA and @MastercardNews
